NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

FG plans to save N4bn from travel costs annually

By News Express on 16/03/2016

Gmail icon

Views: 1,810


The Federal Ministry of Finance has disclosed that discussions with local and international airlines to secure discounts for travel by government officials are yielding positive results.

This was contained in a statement by the Special Adviser on Media to Minister of Finance, Mr Festus Akanbi, on Tuesday.

The statement added that “a review of Government overhead expenditure for the period 2012 to 2014 showed that travel was the largest single expenditure item.

“A cumulative total of N248 billion, equivalent to about 18% of total overhead expenditure was spent on travel during the period.

“This translates to N83 billion per annum. At a conservative discount of 5% on ticket prices, the estimated savings per annum is approximately N4 billion.”

The Ministry explained that given the large amount spent on travel, and consequently the significant potential for savings, “it is imperative that the Efficiency Unit prioritises travel as a key focus area for cost cutting and generation of savings.

“To this end the Efficiency Unit has engaged in negotiation discussions with local and international airlines for discounts commensurate with the large number of ticket purchases made by Government annually. The savings generated will increase funding available to the government for capital investment.”

The Ministry reiterated its commitment to cut costs and promote fiscal prudence and acknowledged the willingness of Arik Air to provide discounts on tickets purchased by the Government.

In addition to reducing government spend on travel; the Efficiency Unit has made proposals to the appropriate government authorities for the introduction of guidelines that will reduce the need for travel by localising the activities that necessitate travel, where feasible, and encouraging the use of ICT.

Other overhead expenditure items including insurance, advertising and fuel, where the government’s bargaining power can be leveraged are also being reviewed.

It further noted that administrative controls are being strengthened through the issuance of circulars detailing appropriate guidelines and the implementation of measures to enforce compliance. (Channels TV)

•Photo shows Finance Minister Kemi Adeosun.

Source News Express

Posted 16/03/2016 05:31:45 AM

 

 

CLASSIFIED ADS

 

You may also like...
Death of Ambassador Ralph Uwechue a big loss...

Nigeria conflict forces more than 1 million children...

Ngige bows out of senatorial race, buys nomination...

Bayelsa Governor urges Nigerians in Diaspora to close...

Community invokes curses against perpetrators of crisis in...

One million Muslims held in secret China camps:...

Four missing as passenger boat capsizes in Delta...

TECNO partners Airtel and Qualcomm, unveils Smartphone for...

Ikeja Electric to expose energy thieves

Earthquake at NCAA; FG sacks ALL directors

Court grants N2m bail to whistle blower accused...

All set for PDP National Convention

 

Latest News Anti-Buhari Editorial: IPOB hails PUNCH; challenges Channels, Tribune, The Nation and Sahara Reporters VISA-free entry to Nigeria a reckless threat to our sovereignty — HURIWA Dilemma in Bayelsa over birth of Siamese twins Ugwuanyi reiterates commitment to scientific innovation Gunmen kill OAU professor Ogboni Fraternity opens up on activities Uproar over CJN’s call for full Sharia in Nigeria Bank mistakenly deposits $37m into woman’s account EFCC marks Orji Kalu’s properties Protesters dispute Imo Speaker’s NYSC certificate Reps threaten to blacklist Julius Berger over slow pace of work on road projects Community without electricity for one year cries out

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (572,570 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (456,930 views) Shameless Genevieve Nnaji exposes breasts in public (406,931 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,725 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,148 views) 10 cars more expensive than Jets (292,711 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,505 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,727 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,143 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,596 views) Lagos plane crash: Journalist releases victims’ names (204,258 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,581 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,623) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (718) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,325) Interview (220) Live Commentary (30) Love Matters (178) Maggie's Blog (520) News (55,264) Opinion (1,440) Pidgin (18) Politics (11,892) Religion (1,133) Sports (2,255) Stock Watch (41) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera